A delinquency notice was issued Monday showing less-than-truckload carrier Yellow Corp. failed to make required contributions to health and welfare and pension funds for the month of June and that it is planning to withhold payments for July. The two periods total more than $50 million, according to a letter from Central States board of…
Load board DAT Solutions and digital freight brokerage Convoy have agreed to drop their lawsuits against each other, according to a notice filed by the two companies’ attorneys on Monday in an Oregon federal district court. The notice specifies that the parties agreed to dismiss their claims “with prejudice,” meaning that neither party can refile…
Luminus Management LLC has acquired Mexico-based carrier Jaguar Transportation, a former subsidiary of bankrupt carrier Celadon, in an all-cash stock purchase transaction. The acquisition includes over 775 tractor-trailers and five freight facilities throughout Mexico, according to a news release. Jaguar Transportation, a trucking company focused on cross-border trade with the U.S., is based in Monterrey,…
The benchmark diesel price used for most fuel surcharges did something this week that had not happened since April 2021: nothing. For the second consecutive week, the Department of Energy/Energy Information Administration posted a price of $3.806 a gallon for the closely watched number. Diesel futures markets had been trending higher for the past two…
Debt ratings agencies may recently have cast a negative view of brokerage houses, but Moody’s has increased the outlook on Odyssey Logistics & Technology from stable to positive. The 3PL’s debt rating was affirmed at existing levels. RXO (NYSE: RXO) last month held on to its debt rating of BB+ from S&P Global Ratings (NYSE:…